E mudra loan | how to apply loan e mudra loan

All about as you all know

Hello friends, today we are going to tell you all about e mudra loan as you all know. This is a successful e mudra loan scheme run by the Prime Minister. Under this, you can take a loan from 10.000 to 100000.

Today we are going to tell you all about the complete process of e mudra loan. What do you need to have to take this e mudra loan? So let us start further.sarkari yojna gk pro hindi

E mudra loan from union bank of india || how to apply loan || e mudra loan
E mudra loan from union bank of india || how to apply e mudra loan || e mudra loan online apply

For which place you will get.

Under PMMY, our bank provides finance to small entrepreneurs who are engaged in manufacturing, trading and service sector business in rural, urban and metro areas.

What is category?

Available in three categories as mentioned below.

Shishu

Kishore

Tarun

Union bank of india Mudra loan

1Eligibility
All Micro enterprises engaged in manufacturing, trading and service sector including professionals (like CA/ICWA/CS/Architect/Medical professionals etc) will be eligible under the scheme.
2Purpose
Need based term loan / CC Limit / Composite loan to eligible borrowers for acquiring capital assets and / or working capital marketing related requirements.

Term loan / CC Limit / Composite loan to be provided only for income generating small business activities and not for consumption purposes.
3Quantum of Finance
Maximum limits upto Rs.10.00 lacs can be sanctioned to meet need based requirement.Mudra loan are categorized as under depending on exposure.

Shishu
Loan amount upto Rs.50,000/-

Kishore Loan amount exceeding Rs.50,000/-and upto Rs.5.00 lacs

Tarun Loan amount exceeding Rs.5.00 lacs and upto Rs.10.00 lacs
4Margin
Minimum Margin under Union Mudra is as under

5% for loans falling under the Shishu loan category.

10% for loans falling under the Kishore loan category.

25% for loans falling under the Tarun loan category.
5Interest Rate
The Rate of Interest would be as per the extant interest rate circular of our Bank.

The Rate of Interest in case of PMMY accounts under agri allied activities / OD in PMJDY accounts covered under CGFMU shall be as per the extant guidelines.
6Documentation ChargesFlat Rs.500 + actual stamp duty, if any (Out of pocket expenses to be recovered by the Bank)
7Facility
Composite Loan. Term Loan and / or Working capital (Fund Based)
8Security/Guarantee
Primary:All assets created out of Bank’s finance shall be charged in favour of Bank by way of hypothecation / mortgage etc.
Guarantee
Personal guarantee of all borrower(s), promoter directors, proprietor, partners of the firm. No third party guarantee shall be taken, since the loan is to be covered under CGTMSE scheme.
9Repayment
i Term Loan:

i Working Capital: 12 months subject to renewal as per extant guidelines.Interest to be recovered as and when due.

ii Term Loan:
a.
 
To be repaid within maximum period of 84 months in equated monthly instalmentsinclusive of maximum moratorium period of 6 (six) months. Period of Moratorium to be allowed judiciously. Repayment Schedule in Finacle should invariably be mentioned as EMI.

b.
 
Branches may sanction for shorter tenor for the loan after evaluating the cash flow of the project/activities and the productive lifecycle of the asset created.

ii Term Loan:
iii Repayment to be made in Equated Monthly Instalments(EMI)
.

For more details, Please contact our nearest branch

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